[Solved] 4. Why do countries enter into preferential agreements with other countries? How does this practice affect international

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[Solved] 4. Why do countries enter into preferential agreements with other countries? How does this practice affect international trade? Give examples.

This paper revolves around international trade, you are asked to state the difference between absolute and comparative advantage and the importance of this difference in the volume of international trade and also, the terms factor intensity and factor endowment (With examples). You are also required to explain why and how non-tariff barriers are used with required examples. And at the end, give reasons why do countries enter into preferential agreements with other countries and how does this affect international trade.  

Task#

1. Explain the difference between absolute and comparative advantage and the importance of this difference in the volume of international trade that takes place. Give examples
2. Explain the terms factor intensity and factor endowment and give specific examples.
3. Give examples of non tariff barriers to trade and explain why and how they are used
4. Why do countries enter into preferential agreements with other countries? How does this practice affect international trade? Give examples.